Weekly Home Sales Volume Flat, Prices Drop

Weekly home sales volume remained flat from last week while home prices fell for the second straight week according to the National Home Sales Snapshot released by DataQuick.

The number of homes sold over the previous thirty day period ending October 20 was 175,664 properties, down 0.1 percent from the previous week’s total of 175,863 properties sold.

Last week’s home sales volume was still 6.2 percent higher than the 165,406 homes sold during same period a year ago but was down 12.4 percent from the same period three years ago when 200,542 homes were sold.

The median price of a home sold over the previous thirty day period ending October 20 decreased 1.0 percent to $180,000 from $181,800 the previous week.

Home prices were 5.3 percent lower than the same period a year ago when the median price of a home was $190,000 and were down 17.6 percent from the same period three years ago when the median price was $218,400.

Over the last five years, median home prices nationwide have ranged from a high of $275,000 to a low of $170,000.

Sales volume for a thirty day period within the last five years has ranged from a high of 339,669 properties sold to a low of 119,636.

The National Home Sales Snapshot includes 98 out of the top 100 metropolitan statistical areas covering 66.25 percent of U.S. home sales.